Indian-Origin CEO Orchestrates $500 Million Fraud Against BlackRock: Inside the "Breathtaking" Financial Scheme

Nov 01, 2025 12:11 am CST

BlackRock's private-credit arm and major lenders are struggling to recover over $500 million lost in an elaborate fraud allegedly perpetrated by Indian-origin telecom executive Bankim Brahmbhatt. The scheme involved fabricated invoices, fake customer communications, and offshore money transfers to India and Mauritius, with Brahmbhatt's companies creating an illusion of financial health while securing massive loans from HPS Investment Partners and BNP Paribas.